The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned two brothers, Cypril Nwalaezi and Smart Chinedu Nwalaezi, before the Federal High Court in Port Harcourt over an alleged N3.2 million land fraud.
The defendants were brought before Justice S. D. Pam on Thursday, July 2, 2026, on an amended five-count charge bordering on conspiracy and obtaining money by false pretence.
According to the EFCC, Cypril allegedly deceived a buyer, Mr. Franklin Nwachukwu, into purchasing parcels of land located along Umuasukpo Farm Road in Igbo-Etche, Etche Local Government Area of Rivers State, by falsely claiming to have valid title to the properties. The Commission alleged that he obtained N2.75 million from the complainant through the transaction.
The anti-graft agency also accused Smart Chinedu Nwalaezi of fraudulently collecting N450,000 from the same complainant after allegedly presenting himself as the lawful owner of another parcel of land in the same area.
The brothers pleaded not guilty to all charges.
Following their plea, the prosecution requested a trial date and urged the court to remand the defendants pending trial. Defence counsel, however, applied for bail on behalf of both accused persons, arguing that they should be allowed to prepare for their defence.
Justice Pam granted Cypril bail in the sum of N500,000 with one surety in like sum, who must own landed property and reside in Port Harcourt. Smart was granted bail in the sum of N50,000 with one surety in like sum.
The court ordered that both defendants be remanded at the Port Harcourt Correctional Centre until they meet their bail conditions and adjourned the case to September 17, 2026, for the commencement of trial.
The EFCC said the case originated from a petition filed by the complainant in June 2024 after he allegedly discovered that the properties he purchased had been resold to other buyers.
Investigations, according to the Commission, revealed that the defendants conspired to resell the properties despite the earlier transactions.
